Allen & Overy LLP has advised the financing banks and the institutional investors in connection with the refinancing of an existing EUR 245 million loan granted to TanQuid GmbH & Co. KG through a combination of loan agreement and bond.

The bank consortium comprises Commerzbank AG, Credit Agricole CIB and The Bank of Tokyo-Mitsubishi UFJ. The four institutional investors are Babson Capital, Edmond de Rothschild’s BRIDGE, IFM Investors and Schroders.

TanQuid GmbH & Co. KG is the leading independent operator of storage facilities for mineral oil and petrochemical products in Germany. The medium-sized company with its headquarters in Duisburg, Germany, is represented at 16 different locations in Germany and Poland and has a total storage capacity of 3 million cubic metres.

The Allen & Overy team advising on the loan agreement comprised partners Conrad Anderson (lead), Jocelyn Land (both London), Dr Norbert Wiederholt (Frankfurt), senior associate Seonaid Todisco (London) and Dr Jan-Hendrik Bode (Frankfurt), associates Lila Sujanani, Elizabeth Evans, Preethi Correa, James Greenwood (all London) and Lorenz Riehl (all banking & finance, Frankfurt). Partner Dr Heike Weber and associate Thomas Dieker (both Frankfurt) advised an all tax-related issues.

Partner Tim Conduit und counsel Jens Nollmann (both international capital markets, London and Frankfurt) advised on all bond-related matters in this transaction.